Success Stories

high-rise-apartment

 

Left Bank at Kinzie Station
300 N. Canal Street
Chicago, IL (Cook County)

High Rise Apartment

  • Reduced Assessment by 25%
  • Saved over $1.1 Million in Real Estate Taxes

George Relias was retained to evaluate and appeal the assessment for a 451 unit high rise CBD apartment building known as the Left Bank at Kinzie Station. The property as assessed at $80,000,000 with strong financials and superior occupancy. On appeal the downturn in the market, coupled with the saturation of similar product coming on line in the next few years reduced the long term valuation of the property.

The value was reduced by 25% resulting in over $1.1 million in actual tax savings.

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